A head-to-head comparison of Schwab U.S. Dividend Equity ETF and YieldMax Ultra Option Income Strategy ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Schwab is known for offering low-cost, broad-based ETFs that serve both core portfolio holdings and specialized investment strategies. Their 33-fund lineup spans multiple asset classes including bonds, equities, international markets, digital assets, and factor-based strategies, with a notable emphasis on dividend-focused funds like SCHD alongside core index options. The issuer emphasizes accessibility for individual investors through competitive expense ratios and a diverse range of fund families designed to support various investment objectives.
See our curated list of related YouTube videos on SCHD.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on ULTY.
Seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.
Covered Call
Asset class
Equity
Equity
Inception date
10/20/2011
02/21/2024
Beta
0.58
1.3581
Last dividend
$0.2525
$0.3380
Ex-dividend date
06/24/2026
07/14/2026
Bottom lineChoose SCHD if you want a quality-dividend tilt rather than the whole market. Choose ULTY if you want to maximize current income — roughly 61.16%, generated by selling options premium. There's no free lunch: ULTY's payout comes from selling options, which caps upside and can erode the share price over time, while SCHD keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SCHD (Schwab U.S. Dividend Equity ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.
ULTY offers the higher yield at 61.16% vs 3.14% for SCHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SCHD is cheaper with an expense ratio of 0.06% compared to 1.14%.
They track different benchmarks: SCHD is linked to Dow Jones U.S. Dividend 100 Index while ULTY tracks Basket (High Volatility stocks), which means their performance drivers differ.
SCHD is the larger fund by assets ($95.2B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose SCHD
Schwab U.S. Dividend Equity ETF
Want a quality-dividend tilt — screened payers rather than the broad index.
Want to keep costs low — a 0.06% expense ratio vs 1.14% for ULTY.
Prefer lower volatility — a beta of 0.6 vs 1.4 for ULTY.
Choose ULTY
YieldMax Ultra Option Income Strategy ETF
Want to maximize current income — ULTY distributes roughly 61.16% from selling options premium, vs 3.14% for SCHD.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, SCHD would generate roughly $26.17/month, while ULTY would produce $509.67/month, at current distribution rates.
SCHD yield3.14%
ULTY yield61.16%
Monthly diff on $10K$483.50
Cost & efficiency
Over 10 years on $10,000, SCHD would cost approximately $60 in fees vs $1,140 for ULTY (simplified, not compounded). The $1,080.00 difference may be offset by yield or performance.
SCHD ER0.06%
ULTY ER1.14%
Strategy & risk
SCHD tracks Dow Jones U.S. Dividend 100 Index, while ULTY tracks Basket (High Volatility stocks) with a covered call approach. Beta is 0.58 for SCHD and 1.3581 for ULTY, indicating SCHD is less volatile relative to the market.
SCHD beta0.58
ULTY beta1.3581
Fund details
SCHD is managed by Schwab (launched 10/20/2011) with $95.2B in assets. ULTY is managed by YieldMax (launched 02/21/2024) with $914M in assets.
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Frequently asked questions
Is SCHD or ULTY better for dividend income?
It depends on your goals. ULTY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SCHD and ULTY?
SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index, while ULTY (YieldMax Ultra Option Income Strategy ETF) tracks Basket (High Volatility stocks) with a covered call approach. They are issued by Schwab and YieldMax respectively.
Can I hold both SCHD and ULTY?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, SCHD or ULTY?
SCHD has an expense ratio of 0.06% while ULTY charges 1.14%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SCHD vs ULTY generate?
At current rates, $10,000 in SCHD would generate roughly $26.17 per month ($314.00 annually). The same in ULTY would produce about $509.67 per month ($6,116.00 annually).
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